Word: swollen
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Dates: during 1970-1979
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...Swollen Inventories. Instead, the worst was over by late spring. The economy's vaunted "built-in stabilizers" began to work. For example, as incomes fell, Government tax collections were automatically reduced while outlays for unemployment compensation and welfare soared, thus causing the Government quite unintentionally to pump more money into the economy. Also, Administration policy turned around completely in January. President Ford late in 1974 called for a 5% surcharge on upper-level incomes; by his 1975 State of the Union speech he was instead advocating big tax reductions. The eventual result was enactment in March of $22 billion...
...spring. By May, retail sales began to move up smartly; by June, unemployment began to drop slowly. For the second quarter, real G.N.P. squeezed out a gain at an annual rate of 1.9%. That ballooned to 13.2% in the third quarter, as businessmen at last cleaned out swollen inventories and began filling orders from new production. The sell-off gave the economy a one-shot lift; the rate of production growth is widely expected to drop back to about 5% in the current quarter-an anticipated development and no cause for alarm...
...years. The Hague government is rapidly trying to unload the vestiges of its old colonial empire−an anachronistic embarrassment. Beyond that, The Netherlands has grown tired of the strife that has racked Surinam since the Hindustanis lost the 1973 elections. A tide of mostly Hindustani immigrants has swollen The Netherlands' Surinamese population from 60,000 to 140,000; they have come to take advantage of the citizenship−not to mention the lavish welfare system−that the Dutch offer all their colonial subjects. At first the newcomers were warmly welcome. But the tolerant Dutch are troubled...
...resolve fundamental social problems or provide a tremendous range of worthy services. Officials should attempt to lower expectations-or at least shift them toward other levels of government that have some hope of satisfying these expectations." If the crisis really does teach the city to match its swollen expectations to its shrunken means, New York-with its rich concentration of talents and resources -might pioneer a new way of life for the American city...
Solid Profits. The figures are not quite as bleak as they look. Last year profits of many companies were swollen by inflation, which raised the prices of goods the companies held in bulging inventories. During 1975, these artificial profits have largely disappeared: companies have drastically reduced their inventories, and the prices of merchandise remaining in stock are rising less rapidly. During the second quarter, Citibank calculates, less than 10% of all corporate pretax profits were traceable to rising inventory values, v. nearly 33% during the same three months of 1974. Inventory values, the bank's economists believe, should continue...